Ravencoin is a protocol based on a fork of the Bitcoin source code, with addition of new features designed to allow individuals to issue security-like tokens on its blockchain. Like Bitcoin, its consensus is reached through Proof of Work (PoW). However, Ravencoin relies on the X16R algorithm, which is intended to be ASIC resistant by design. Further changes to the Bitcoin protocol include a reduced blocktime of one minute, block rewards of 5000 RVN and, most notably, the added functionality to issue assets and sub-assets. Token issuers have flexibility to issue tokens with various characteristics. For instance, these tokens can be mintable, named without restriction, and issued in any quantity. Tokens can also be issued as a security or as a collectible. It is intended that use cases such as communication or voting will similarly rely on purpose-built tokens that are subsequently allocated to relevant addresses and are acting as "talking sticks". RVN coins are intended as internal currency within the network and must be burnt in order to issue token assets on the Ravenchain.